Sunday, June 26, 2022

Taking a Closer Look At Avadel Pharmaceuticals plc (AVDL) Following Its Recent Trade

Avadel Pharmaceuticals plc’s recent filing unveils that its Director Glass Geoffrey Michael acquired Company’s shares for reported $96300.0 on Jun 01. In the deal valued at $2.14 per share,45,000 shares were bought. As a result of this transaction, Glass Geoffrey Michael now holds 45,000 shares worth roughly $ 0.11 million.


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Then, Ende Eric J bought 20,000 shares, generating $45,496 in total proceeds. Upon buying the shares at $2.27, the Director now owns 134,900 shares.

Before that, Ende Eric J bought 15,000 shares. Avadel Pharmaceuticals plc shares valued at $32,394 were divested by the Director at a price of $2.16 per share. As a result of the transaction, Ende Eric J now holds 114,900 shares, worth roughly $0.28 million.

Meanwhile, Stifel downgraded its Avadel Pharmaceuticals plc [AVDL] rating to a Hold from a a Buy in a research note published on Tuesday, May 26, 2022; the price target was decreased to $2 from $9. PT values the company’s stock at a premium of -23.0 to its Tuesday closing price. A number of analysts have revised their coverage, including Needham’s analysts, who began to cover the stock in late September with a ‘”a Buy”‘ rating. Oppenheimer began covering AVDL with a “an Outperform” recommendation on July 31, 2020. SVB Leerink started covering the stock on July 21, 2020. It rated AVDL as “an Outperform”.

Price Performance Review of AVDL

On Tuesday, Avadel Pharmaceuticals plc [NASDAQ:AVDL] saw its stock jump 5.13% to $2.46. On the same session, the stock had its day’s lowest price of $2.36, but rose to a high of $2.53. Over the last five days, the stock has gained 9.33%. Avadel Pharmaceuticals plc shares have fallen nearly -69.55% since the year began. Nevertheless, the stocks have fallen -68.13% over the past one year. While a 52-week high of $11.59 was reached on 01/04/22, a 52-week low of $1.05 was recorded on 05/26/22. SMA at 50 days reached $4.08, while 200 days put it at $7.05. A total of 0.61 million shares were traded, compared to the trading of 0.41 million shares in the previous session.

Levels Of Support And Resistance For AVDL Stock

The 24-hour chart illustrates a support level at 2.37, which if violated will result in even more drops to 2.28. On the upside, there is a resistance level at 2.54. A further resistance level may holdings at 2.62. The Relative Strength Index (RSI) on the 14-day chart is 41.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.04, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 52.78%. Stochastics %K at 38.55% indicates the stock is a holding.

Avadel Pharmaceuticals plc [AVDL] – Who Are The Largest Shareholders?

In filings from RTW Investments LP, it is revealed that the company now owns 5,741,939 shares, or roughly 9.73% of the outstanding AVDL shares. In other words, the investor’s shares have fallen by 0 from its previous 13-F filing of 5741939.0. Additionally, Tontine Associates LLC increased 47.14% of its stake after which the total value it holdings stand at $9,226,710, while Cowen & Co. LLC reduced 0.00% of its stake to hold $8.25 million in the firm. Over the last quarter, Polar Capital LLP purchased 404,479 shares of Avadel Pharmaceuticals plc, while Brandes Investment Partners LP bought 389,041 shares. At present, Wealth Effects LLC is holding 2,377,290 shares valued at $5.25 million. Woodline Partners LP owned 2,116,029 shares of the company at the time of its most recent 13F filing, worth $4.68 million.

The most recent change occurred on June 30, 2020 when H.C. Wainwright began covering the stock and recommended ‘”a Buy”‘ rating along with a $15 price target.

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